World total provedreserves of oil Selected countries*, (2006) in % Libya ...reserves amounting to seven billion barrels. This is equal to 0.6% of world total oilprovedreserves, a level higher than that of Sudan (0.5%), and comparable to Norway ... and existing extraction conditions, Azerbaijan‘s oilreserves would last for the next 29

(figure 3) The region contains only about 4% of the world’sprovedoilreserves and 7% of the proved gas. But it does have 30% of the proved coal reserves, particularly here ... the worlds developing energy needs, while halting the rise in human-induced carbon ... stages of development. However, the world will need much more energy over the next

As of January 1, 2009, provedworldoilreserves, as reported by the Oil & Gas ... of the world’sprovedoilreserves are in the Middle East (Figure 32). Just under 80 percent of the world’sprovedreserves are concentrated in eight countries ... Middle East North America Central & South America Africa Eurasia World Total: 1, 342 Billion Barrels Asia Europe 14

OPEC: as Table 8 shows, Venezuela’s proven reserves are approximately one Source: Adalman (1995), IEA(2005) A less dramatic way to increase fiscal oil revenues ... of gasoline in the world, collection on this tax is a small fraction of what it could ...Reserves (Billion Barrels) Country/Region Percent Saudi Arabia Iran Iraq Kuwait United Arab Emirates Venezuela Russia Kazakhstan Libya Nigeria United States China Canada Qatar Mexico Algeria Brazil Norway World Total Source: BP Statistical Review